Innovation-Development Detours for Latecomers

Keun Lee is distinguished professor at Seoul National University, fellow of CIFAR, an editor for Research Policy, a regular writer for Project Syndicates, the winner of the 2014 Schumpeter Prize, and the 2019 KAPP Prize. He served as an economic advisor for the President of Korea, as the President of the International Schumpeter Society, was a member of the UN CDP, and of the World Economic Forum (GFC).

• 1. Introduction; 2. National innovation systems and alternative pathways for latecomers; 3. From global-local interface to local value added, knowledge, and ownership; 4. Coevolution of firms with sectoral, regional and nation systems; 5. Korea's innovation: development detour; 6. Roles of government along the detours; 7. Summary and conclusions.

'A richly detailed and highly stimulating book on how latecomers, especially middle-income countries, can overcome the multiple obstacles they face. The key, Keun Lee argues, is not to emulate the experience of rich countries but to develop institutional innovations better suited to their needs – through industrial policies that emphasize domestic knowledge and ownership of firms and mediate the economy's relationship with the global economy, while leveraging the discipline of global competition. Drawing on extensive empirical studies of firms and industries around the world, this book presents a rich menu of development pathways.' Dani Rodrik, Professor, Harvard University